- NY Credits : 3.0
- TX Credits : 3.0
In March 2006, the AICPA's Auditing Standards Board (ASB) issued multiple Statements on Auditing Standards (SAS) relating to the assessment of risk in an audit of financial statements. They were effective for audits of financial statements for periods beginning on or after December 15, 2006. The overall impact was to significantly enhance the audit risk assessment considerations and documentation, particularly in areas of professional judgment. The GAAS Guide - Standards provides an overview of generally accepted auditing standards.
This basic level course is most beneficial to professionals new to this topic who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this topic.
Upon successful completion of this course, the user should be able to:
recognize the importance and rationale for recently issued audit standards,
identify the basic responsibilities and nature of the audit function, and
identify the overall objectives of the independent auditor and the conduct of an audit in accordance with GAAS as stated in SAS No. 122, Clarification and Recodification.